Poverty2Prosperity.org is a microfinance non-profit that would like establish a loan fund for women around the world. 70% of women and their families are living in poverty. There are good reasons to loan to women who do not have access to traditional credit. Repayment rates for microloans made to women are higher than men. They also contribute larger portions of their income to household consumption than their male counterparts. Working women are more likely to educate their daughters than men
The problem is that 70% of women live in poverty, yet given the chance, they would work themselves out of it. Unfortunately, traditional credit to start a business is usually denied to women and given to men. With women getting loans to start their own business, not only will they lift themselves out poverty, but they have a much higher percentage of putting revenues directly towards family needs and they are much more likely to educate their children, especially their daughters.
We will create a fund that will make microloans to women around the world. For our current funds, we have a more than 99% repayment rate, so our funds come back and immediately go out to the next needy entreprenuer. We feel that a fund of this size will last indefinitely. Women friendly loans shall be chosen using Kiva.org. These will include: education loans, family friendly businesses (in home for example), health improvements such as alternatives to burning coal which tend to harm women.
The long term effect is that women are given a chance to prove themselves as a successful part of their community. They are invited to help lead the community. The are focused on getting their children educated - much more so than men. Daughters are shown that benefits of entrepreneurship and families are given a chance to lift themselves out of poverty.
